STAVANGER, Norway, June 7 (UPI) -- Experience gained from gas production in the Arctic paves the way to future developments in the Barents Sea, Norwegian energy giant Statoil announced.
Helge Lund, the chief executive officer at Statoil, lauded developments at the Snohvit liquefied natural gas plant during a seminar marking three years of operation at the facility.
"As the first production plant for LNG in Europe and in Arctic areas, Snohvit has taken a new and central position for Statoil in the European gas supply picture," he said.
Lund said the Snohvit project positioned Statoil as a competitive leader in the European and U.S. gas markets.
He added that developing LNG in Arctic areas put his company in the position to examine future projects off the coast of Alaska and in the Barents Sea.
"With LNG deliveries from Snohvit, Statoil on its side has added an important and strategic contribution to its gas value chain," he added.